tv [untitled] December 13, 2012 3:30pm-4:00pm EST
however the deal might not actually be as good as it appears for the eurozone greece's given its financial back is something of an early christmas present by buying back a chunk of its debt from them however when they take the wrapping paper off that gift they won't find it's a little less which they've asked for as part of a bond buyback scheme which saw athens buy back its own bonds at around thirty four percent of their original value the international monetary fund had expected greece to be able to get its debt situation down to one hundred and twenty four percent of overall economic output by twenty twenty now that really does not seem likely right now this is because the i.m.f. to say well we won't be lending any more money to any countries that can't pay back their debts however there is a dangerous precedent with this in terms of greece been able to return the money of course private investors private creditors greece well a lot of banks and
a lot of insurance companies have already had to take that hit and it may swell there's no way we're going to get this cash back from greece but that is something that the i.m.f. certainly are not willing to accept right now. well speaking of banks have they been getting away with dodgy dealings well according to max kaiser that's the case take a look. h.s.b.c. to pay a one point nine two billion dollars fine to settle charges over a laundering state and federal authorities decided against indicting a just b. c n n money laundering case over concerns that criminal charges could jeopardize one of the world's largest banks and ultimately do stupid laws the global financial system too big. too big to jail this government condones crime and they wonder why they made roads on fire because they had water on fire because they got the contract for the lighter fluid company.
well in just a bit we'll have news from another crisis stricken nation we'll find out why even though more britons are in work joy over the drop in jobless numbers could prove to be short lived. right business with katie up next what's the say here about russian shoppers heading over to europe yeah they're going there spending their you. is being gratefully received two point five. to be exact but certainly a large sum i'm sure the shopkeepers there are quite thrilled they are. actually taking to power. but not quite nearly as much as the chinese that spending all the money because right now europeans don't have much of it so that is all coming out in the business but it's and also the bright stay with us.
just see them on the enemy coming her. home out of my mind i'm a little. the fellow. more news today violence is once again flared up the film these are the images the world has been seeing from the streets of canada the first chinese corporations or the day. look. you know how sometimes you see a story and it seems so for lengthly you think you understand it and then you glimpse something else and you hear or see some other part of it and realized everything you thought you knew you don't know i'm tom harpur welcome to the big
don't. like that welcome to business they're not just states may soon lift limitations of its l. and g. exports to europe the idea belongs to a republican senator richard lugar up who believes it would help european countries lower that dependence on russian energy supplies sawyer to discuss this in more detail without further ado it is going to the business desk of the task. force on top of the story so i asked if paulson bill would allow us gas exports to european nato member countries over three nato members all they caved in europe so is that a real threat to russia. well katie maybe maybe not even if the regulators actually approve this initiative to export gals to the european countries and keep
in mind that this approval is absolutely essential because at the moment the nato countries in europe are not really free trade partners of the united states so even if the regulators give the green light to this initiative i'm not sure that it really makes sense for the united states itself now politics aside it doesn't really add up economically the u.s. at the moment doesn't want to export a large quantities of its galahs anywhere for a very simple reason it needs it at home just recently with the discovery of shale gas and with this whole shale gas revolution it was finally able to become import independent and now to all of a sudden shipped all this cheap american gas overseas will basically mean boosting domestic prices jeopardizing the whole manufacturing revival and experts both here in russia and abroad believe that this is
a ridiculous idea listen to what some sentences from the national energy security fund says if there will be an expert from that is this the prices you know this this will go up there is no reason for american government doing cruise local prices because it will be the corpse or their poorly self-induced the musicians united states the return of factories to united states they don't want to do it and that is why i absolutely sure that they will not give permission to increase seriously improve the. but most us the us federal regulators they must know all of these arguments as well that if they go ahead if they given the green light to european gas exports would that mean that it does make economic sense a surely not necessarily because kitty in addition to the economics that you and i perhaps are used to talking about here and business there also of course the politics and the politics and namely the geo political interests play
a key role in an issue of like these the united states on numerous occasions criticized russia for using energy as a political tool and what does senator lugar now wanted to do as soon as it discovered shale gas while senator lugar was the united states to go ahead and use gas as a political weapon sure gals together competition is strengthening and it's certainly a strange thing and europe but who is going to replace russia as the main supplier of gas to europe is very much a political question here's what seamen i've had to say on this the united states they want to see other suppliers. which under serious political control of united states such countries is as it were because looks. so they want to see these countries as the moon supplies to europe this is the.
and keep in mind katie that there's another big issue at the moment there's sixteen applications pending to export u.s. gas to norn free trade countries that means that lugar's initiative will have to get in a very long line and i'm not really sure that lugar himself is up to waiting in that line since he just gave his retirement speech on wednesday well. thank you very much indeed i think we're going to be talking about gas for quite some time here in business are in fact. moving on that of the fourteen hours of overnight negotiations european finance ministers finally agreed on allow mult deal to make the european central bank the supervisory body for about two hundred of the biggest banks in the region all the deal is seen as a step towards a fiscal and economic union now earlier i spoke to mike ingram from d.c.
partners and he believes it's going to be a long process. at the moment we don't know what metrics that the e.c.b. will actually apply to the banks that eventually fall under its supervision deadline for that now is pushed out to march two thousand and fourteen what's going to happen over the next few months and this is this is a tentative deadline of february next year is that european banking or forty is going to be a easing with local regulators to try and. achieve a degree of harmonization across not just the euro zone but of course the union so this is actually could be quite a long drawn out process but yes i think it is it is a step in the right direction i think with the euro zone it's always about baby steps but it should to some extent reassure markets that you know financial stability for the stability the banking sector is still very much the top the gender of the euro zone inmates mots twenty fourteen that's the deadline for.
nothing so long why away what happens in the meantime the likes of greece and spain default they leave the time what happens then. well i think then it would be a situation of improvisation and you know i would have to say that you know the press this morning one of things that they were very focused on was well this clears the way for direct recapitalization of banks say in spain greece etc directly from the european bailout mechanism. but the thing about this is it's not likely to be retrospective so any banks that have already received a right through the sovereign probably are eligible for it has been pressing for this were a while the second thing is that you know a lot of things could happen between now and bashi thousand and fourteen and you know that the city could be actually says well you know we've kicked the can to some extent down the road to the other side of german federal elections the other
thing i'd also point out you know this is only that agreement on the first of three for a year. figure compared to getting the second pillar is about agreeing a resolution mechanism for. european banks which are in trouble there are sovereignty issues there there are four main issues there which germany will surely people are going to be pushing against and the third pillar is a european wide deposit insurance fund which would need a lot of money a job is really going to push against that but that's that's clearly discussion for two thousand and fourteen. today that will see what the markets are up to us continuing down was us nothing on a six day gain now house speaker john boehner says that the white house is not serious about cutting spending offsetting better than expected jobs claims bookstores and that also meant that european stocks dropped as well as investors digested big fresh comments from us telling. worried about the lack of progress in
budget negotiations. the fiscal cliff. common currency that is now creeping up with that she is pretty but it is against the u.s. dollar bills meanwhile the russian currency finished up with a. car is a common currency and the rest of the us in august and hear more. from the international markets all about the oil price is it going sounds of any help pump up investors. but as far as russians saw physical health inskeep the european resale market business interests have been spotting out two point four billion euros in the past year helping to keep the luxury stores afloat during these challenging times now the total russian expenditure is comparable to the domestic markets about trade gets losses for the spending has now supposed to pounds but not quite up to china's level just yet the chinese.
to jump on the play and hit the european shelves. why not indeed made us a business visit. trimmings in this tree even for specialists a voice can produce several sounds it warms but we didn't use the art of throat singing comes naturally picked up like a language. a language of communicating with nature it said that's where throat singing originates from the unions believe not only animals but also all surrounding
objects like reverse forests and stones of souls and by imitating the sounds they believe assumes to capture the power of nature. was. there are special instruments that accompany the singing give gainey says there is even a legend about his instrument a gill it says once there lived a poor shefford who had the best horse that won every competition but jealous people killed it on the horse was revived as an instrument. those that have suffered a fall is because of the spirit of the horse coming to his dream and said make an instrument from a tree the sounding board from the leather of my face the strings. and to remember me make an engraving of my head part of the instrument he did so i called the instrument again which means come back and this melody and these schumann is called .
to fly as one of the most famous groups in the republic there. next goal is to tour broad they say for you were a peon since difficult to pick up and sing so i asked them to teach me and see if i can do it. cheerleader and they would. share it oh you. should say no. then was to get a out oh. but now to be part of the song and not the actual throughout singing which i wouldn't even try to repeat. so maybe you have to be born here to be able to sing like this puzzled so until i met small she looks like
a deveny and i don't even speak their language but she is from japan. most sense. from two hundred years ago until the hear she's not planning a professional singing career she keeps practicing just because it's become part of her nature. to see catherine off with you let's get straight back to our top headlines well there's an early christmas present for britain the jobless rate house shrunk and its biggest quarterly drop in a decade but that's no reason to pop the champagne just yet s. are for explains. well some unexpected season would share this week with official statistics say the u.k.'s unemployment rate has fallen by eighty two thousand
people between august and october well the government might have been acting like christmas is coming early but the cold hard reality is that all of course there are going to be a huge number of people right now he simply don't recognize the picture that they statistics of painting and that's one that person is back to work you need to separate out this month's figures from kind of the medium to long term direction of the economy on the right market so we're still getting some of the tail end of the calm summer olympics effect and we're not sure whether when we start to move out about period you're going to still see this very strong employment growth particularly amongst young people take for example those on the government's work programme now they have to come along to the job centers part of that program and be signed up for mandatory unpaid work experience now those people will no longer be included in the unemployment statistics a very clearly that's very far for
a more ordinary people indeed these people on the program themselves would consider employed so you can see you have to be very careful with this not that these statistics are giving us do you feel like the government's doing enough to help young people can see anything around me. really and how you find me on the work program a lot of young people we've spoken to have you know haven't found it all that helpful most of. the people are looking for. an employer young person who. never would have before in their lives that's it of course is not all bad news there are some encouraging signs in the statistics but it's very early days and to conclude that the labor market here in the u.k. is back to full health with not only be foolhardy it would be dangerous in fact predictions saying that in. twenty thirteen we could see youth unemployment told that one million marker again now that could have. implications for the young labor
market hit in the united kingdom and right now boyce is on the precipice of venturing a recession and so is the millions who work is the twenty thirty is looking sets to be very. happy. up to ten workers remain trapped under rubble after a building collapsed on a construction site in russia's south west at least five people were killed in the accidents twelve others hospitalized and isn't yet known why the three story building came down but an investigation is currently underway emergency teams from moscow are heading to the roast of region to help the rescue operation. let's take a look at some of the other international headlines making news right now in the west bank dozens of young palestinians have clashed with israeli soldiers apparently throwing stones and bottles as you can see before the troops have
responded with tear gas the tensions are high after a palestinian teenager was shot dead by israeli border police on wednesday this is after allegedly brandishing a gone a claim denied by the palestinians. there's a state of disaster in samoa which has been hit by a cyclon evan two children are believed to have been killed there's also widespread damage trees uprooted and power lines down mass evacuations have been ordered in several areas including the capital where most of the roads have been cut off. and here's how you cranes parliament gets down to work on the first day two opposition m.p.'s who decided to run independently provokes their colleagues outrage and more outside after us tore down a barrier around the parliament building stating that no democratic country fences off its government september's election was criticized by international observers for violations especially by the ruling party. the u.s. has admitted detaining more than two hundred afghan teenagers some as young as
thirteen keeping them locked up for about a year without charge reports the united nations said that imprisoning the youngsters was a preventative measure against the insurgency more now from archies on associate. over the last several years what has been going on is over two hundred afghan teenagers that were captured detained as a result of the fight against the taliban and al qaeda in afghanistan and held at a u.s. military prison. air base. the shocking numbers here are that the age of these people was on average sixteen years old a lot of them were a lot younger we're talking about twelve thirteen fourteen year old kids held for an average of a year and curiously in many of these cases we're talking about brothers here who are sitting at a hole and just captured and detained and taken into this military prison because there are suspected of being competence and in many cases it's important to
underline here that these teenagers were not wearing military uniforms they were not participating in combat they were just suspected of being enemy combatants and they were taken to. the u.s. says it's a preventative measure we need to do i do everything we can to make sure these suspected enemy combatants don't return into the bottle field and cause they're not charged with any crime whatsoever there's no mandatory rule that they need to be provided with legal assistance they're saying that these afghan teenagers were allowed for example to participate in open hearings and defend themselves afghan teenagers defending themselves we have to say that most of the many of them have been released or transferred to the afghan government at this point but many do remain as well don't go away i'll be back with more international news stories for you in just about ten minutes time stay with us. wealthy british science.
breaking news a little turn to tip angles kidney's stories. are you here. to enjoy all te spanish find out more visit eye to eye all tito is comb. choose your language kelly mccann would know if they still sometimes. choose this is the consensus here to. choose the opinions that invigorating to. choose the stories good in life choose access to often.